OFN’s Statement on the White House Proposed Budget
For 30 years, the CDFI Fund has supported critical investments in small business, affordable housing, and economic opportunity in communities throughout America. OFN is disappointed that the White House’s budget blueprint for Fiscal Year (FY) 2026 released today eliminates essential CDFI Fund grant programs.
The CDFI Fund supports the goals of President Trump’s economic agenda, and it simply makes good business sense: it maximizes the return on federal spending by facilitating an estimated $8 in private sector investment for every $1 in public financing. Dismantling the Fund not only threatens those investments, but also risks weakening local economies and jeopardizing thousands of small businesses.
Congress delivered strong bipartisan support for CDFIs during previous attempts to scale back the CDFI Fund. Treasury Secretary Scott Bessent recently affirmed that CDFIs are a “key component” in supporting job growth, wealth creation, and prosperity on Main Street.
The release of the budget blueprint is just the beginning of the congressional appropriations process. OFN will continue to work with lawmakers from both parties to preserve the current federal funding level of $324 million for the CDFI Fund in FY 2026 and share the important role that CDFIs play in their districts. Of the 435 congressional districts, 92% have at least one CDFI physically located within and serving their communities.
CDFIs have a vital role to play in demonstrating the positive impact of the CDFI Fund. Now is the time to contact your elected officials and share how CDFIs are making a difference in your communities. We are confident lawmakers will understand the Fund’s proven track record and impact and will continue to stand behind its work. Take action today through the OFN Policy Action Center.
Media Contact
Brendon Miller
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